All Forum Posts by: Tyler HOOD

I am coming up on a balloon payment for an 8 plex with a value around 1mm. The bank  is pushing a 5 year term hard. With interest rates where they are, I would love a longer term. Any ideas on what I should reasonably expect/ask for? I shop banks relatively often but have been happy with this bank otherwise so I don't want to push if I can't find it anywhere else. TIA

LOI's generally don't have any teeth in my neck of the woods. They could back out regardless. I would ask if they are willing to sign a lease that commences on upon completion of work.

The businesses in the space profit consistently as well (we own the businesses in there too). But we do have several unlevered properties like them and are overexposed in the hospitality industry/hospitality real estate. The goal is to move some small amount of net worth from that industry to a different segment, even if it is just other real estate. It is just too much exposure to one industry. So I am willing to take a pretty minimal LTV to be able to diversify in a relatively "risk free" way. Thanks for all y'alls help.

The loan amount would be roughly 3 million. I havent asked specifically asked about corporate guarantees, but I will. Thanks for the answers.

Hey guys, I am interested in trying to find a lender for a couple established commercial properties. We have owned the properties for the better part of 2 decades and I am trying pull some built up equity out and redeploy in a different area. The catch is, I am trying to do the deal in Nonrecourse or In Rem loans.

I have exhausted most of my normal banking contacts. They are mostly regional or statewide banks. They just don't touch nonrecourse at all. These are hospitality businesses that have very consistent revenue over the last decade and I am trying to get in the ballpark of 50% LTV.

Any ideas on lenders that might be interested?

Thanks!

Awesome! Will try there. Thanks

Hey guys, I am interested in trying to find a lender for a couple established commercial properties. We have owned the properties for the better part of 2 decades and I am trying pull some built up equity out and redeploy in a different area. The catch is, I am trying to do the deal in Nonrecourse or In Rem loans. 

I have exhausted most of my normal banking contacts. They are mostly regional or statewide banks. They just don't touch nonrecourse at all. These are hospitality businesses that have very consistent revenue over the last decade and I am trying to get in the ballpark of 50% LTV.

Any ideas on lenders that might be interested? 

Thanks!